Loan Recollection

Our Loan Collection Software has been designed to automate the process of loan collection - making it easy, hassle-free and cost-effective for lenders

Use technology to be modern and build great relationships with your borrowers. Automate the tasks of email and sms reminders.

Our software employs a unique AI tool to determine the optimum time to send a payment due reminder to a borrower based on past behavior. The content of the reminder is also determined intelligently by the software. Lenders often use this AI-tool to determine when to send a penalty-waive-off-offer to borrowers to maximize revenues and reduce chances of default.

FintechLabs simplifies and automates the loan collection process which results in tremendous cost and time savings for the lenders. Moreover, it leads to streamlined and smooth customer interaction leading to greater customer satisfaction. Our software provides a much-needed visibility into the status of all loans at any given point.

Banks and lenders spend considerable time and resources in collecting loan repayments and accounting for them in their financial books. With technology, this process had been made easier globally with online payment gateways. In India, however, the financial ecosystem is unique in that much of the loan repayment is still done through ECS, cash or cheque. FintechLabs can help Indian banks and lenders through our unique Loan Repayment Software that automates payment received through ECS.

Once a lender accepts an ECS mandate from a borrower, a NACH application has to be sent to NCPI, which returns the approval status of the application over email. Our software automates the task of reading this approval email and updating status in dashboard, thereby activating ECS.

Banks receive hundreds of ECS payments every day, requiring enormous accounting resources to verify these payments, update statuses and send receipts. Our software saves you time and hassle by automating this task and completing it in seconds

Automated email and sms reminders for payments

IVR integration for automated reminder calls. Facility to make payments on these reminder calls